Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA, 6 DECEMBER: The move by the government to reduce special draws run by number-prediction companies (NFO) from 22 to eight per annum is expected to have a less of an impact on Sports Toto Bhd's earnings than initially anticipated. Hong Leong Investment Bank Research said that it isn't too concerned, as special draws usually have lower sales. They also frequently reduce the sales of regular draws.
Lotteries in India
The lottery industry contributes a substantial amount to State budgets. It is also a popular type of entertainment among India's rapidly expanding, mobile-savvy, and tech-enabled population. This market is hampered by a number structural barriers that hinder its growth. Fine-tuning taxation issues and pushing for widespread digitization could help in solving these problems.
The legal position of the State on lotteries ranges from allowing lotteries to completely banning them. While some have an open-minded approach, most are restrictive in regards to ticket prices and the use of technology and jackpot size as well as public image. These restrictions affect the success of both government-run and private lotteries. Regardless, their popularity persists due to their low cost and widespread availability, granting them an advantage over illegal gambling operations and offshore operators.
The lottery industry is likely to be a part of the digital revolution that has transformed all other sectors of the economy. Digitalization will not only provide new ways to more info play, but also allow Indian consumers to purchase tickets. This will impact the parallel, offline lottery dimension, where many buyers are still used to purchasing tickets in person at sales points in their local area.
In the past, India's lottery industry was hindered by the high cost of internet access and the lack of a digital infrastructure. Today there are 750 million Indians have access to cheap internet access, which has increased their purchasing power and convenience. The result is expected to result in a change in the market's structure, with online and offline segments interacting side-by-side.
Lottery players will be able to buy tickets online and play anywhere in the country. Additionally, the Consumer Protection Act offers a legal framework for the resolution of complaints about deceptive advertising and other business practices. This ensures that the lottery participants will not be victimized by unscrupulous operators.
While the majority are run by the central government, a small number of states have licensed private companies to manage their draws. Private lotteries can be more flexible in their tickets' prices, jackpots and other parameters. They can also be more attractive to foreign investors. They also can avoid the limitations of legislation at the state level, such as the ban on cross-State sales.
Playwin is a subsidiary of the Essel Group, is licensed to run the Sikkim State Lottery. The company was plagued by financial difficulties after the introduction of GST, which caused an increase in ticket sales. The company is currently facing insolvency legal proceedings. Despite the risk the private lotteries continue be popular in India, especially among younger generations. They can be played on smartphones, computers, and TVs, and prizes are usually greater than those offered by regular lotteries. Many players are concerned about the security and safety offered by these platforms. They are also worried about the risk of personal information being disclosed. The government is working to address these concerns through new regulations and responsible gaming. The public can assist by reporting any suspicious activity to the authorities.